R&D (Research & Development) plays a very important role in the success of a business. The manufacturing companies who consider R&D as productive investment, in the long term become globally competitive and achieve sustained business growth.A well-structured R&D program can lead to development of new products and services, which can result in benefit to the company in terms of new market, increased market share, achieving cost competitiveness, etc.

CII has instituted an Award for recognizing exemplary efforts in R&D. The preparation for the award and the knowledge gained in the process will help to inspire other industries for adopting similar techniques, tools and technologies and help India become global and competitive leader in manufacturing.